Weekly Market Commentary – July 30th

Weekly Market Commentary – July 30th

CONSUMERS ARE STILL A BIT CYNICAL
The good news is that the University of Michigan’s final July index of consumer sentiment improved from its 72.0 preliminary reading to a final mark of 72.3. Still, that represents a 2012 monthly low for the gauge, which had finished June at 73.2.1

NEW & PENDING HOME SALES DECLINE
In year-over-year terms, things look sunny: new home sales were up 15.1% in June compared with June 2011 and pending home sales were 9.5% improved from a year before. June reports from the Census Bureau and National Association of Realtors were respectively gloomy, however: new home sales dropped an alarming 8.4% after two months of gains, and contracts to purchase existing homes decreased by 1.4%.2,3

DOW LOGS BEST 3 DAYS OF THE YEAR
How could that happen with such negative indicators? Two words: renewed hope. Thursday, European Central Bank president Mario Draghi said the ECB would do whatever is needed to save the euro; Friday, Draghi was reportedly talking with Germany’s central bank about coordinated sovereign debt purchases. So the Dow (+1.97% to 13,075.66), NASDAQ (+1.12% to 2,958.09) and S&P 500 (+1.71% to 1,385.97) all did well last week. COMEX gold rose 2.22% last week to end Friday at $1,618.00; oil settled at $90.13 Friday, as prices slipped 1.85% across five days.1,4,6

Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov – 7/27/124,7,8,9
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.

Jeffrey Foster is a Registered Representative with, and securities are offered through LPL Financial, Member FINRA/SIPC.

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world’s largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

Subscribe To Our Newsletter

Our newsletter is a great way to stay up to date on our recent blog posts! Fill out the form below and subscribe.

First Name *

Last Name *

Email *

Example: Yes, I would like to receive emails from Tennessee Valley Asset Management Partners. (You can unsubscribe anytime)

Constant Contact Use.

By submitting this form, you are consenting to receive marketing emails from: TVAMP, 6025 Brookvale Lane, Knoxville , TN, 37919. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Our newsletter is a great way to stay up to date on our recent blog posts! Fill out the form below and subscribe.

First Name *

Last Name *

Email *

Example: Yes, I would like to receive emails from Tennessee Valley Asset Management Partners. (You can unsubscribe anytime)

Constant Contact Use.

By submitting this form, you are consenting to receive marketing emails from: TVAMP, 6025 Brookvale Lane, Knoxville , TN, 37919. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact